Global Banks Poured $1.9 Trillion Into Fossil Fuel Financing

Just after global talks organized by the United Nations to rein in greenhouse gas emissions stalled this month, Goldman Sachs Group Inc. seized the opportunity to announce a tougher stance on fossil fuel financing. Environmental groups such as th.....»»

Banks with more than $47 trillion in assets, or a third of the global industry, adopted new U.N.-backed "responsible banking" principles to fight climate change on Sunday that would shift their loan books away from fossil fuels......»»

Since Earth Day was first celebrated decades ago, fossil fuels have become a larger percentage of global energy use, according to a Wells Fargo report......»»

The American Petroleum Institute, the largest fossil-fuel lobby, is joining the call for pricing carbon as a way to lower U.S. emissions and slow global warming, a shift for the industry......»»

Some 60 of the world’s largest commercial and investment banks have in total put $3.8 trillion into fossil fuels from 2016 to 2020, the five years after the voluntary Paris Agreement was signed......»»

Standard Chartered defended its environmental credentials after renewed criticism from climate campaigners for its funding of fossil fuel companies as the bank held its annual shareholder meeting on Wednesday......»»

The International Monetary Fund is encouraging central banks and governments to take steps soon that could offset the impact of the coronavirus pandemic. The IMF has a $1 trillion fund to assist........»»

JPMorgan Chase & Co. (NYSE: JPM) will stop giving out direct loans for fossil fuel extraction projects in the Arctic, the company announced Monday. read more.....»»

The world’s worst banker of climate change, JPMorgan Chase (NYSE:JPM), aims to silence shareholders seeking reporting on fossil fuel financing Public commitments to address cl.....»»

Major Banks Complicit in Financing .....»»

Why Banning Fossil Fuel Investment Is A Huge Mistake Authored by Cyril Widdershoven via Oilprice.com, Activist global warming strategies have now caused the European Investment Bank to ba.....»»

Global fund flows are pouring rapidly into "virtue" stocks that "help the planet" and away from "vice stocks," including anything to do with fossil fuels. 0 read more.....»»

The amount of fossil fuel in the world's stockpile far exceeds what could be produced and burned without running rampant over the chances of limiting climate change......»»

BlackRock Inc , the world's largest asset manager, exceeded analysts' estimates for quarterly profit on Tuesday, as investors poured money into its fixed-income funds and cash management business amid worries about global growth......»»

S&P Global Ratings is now warning about $5.2 trillion in corporate debt coming due through 2024, reported International Financing Review (IFR). The $5.2 trillion includes bonds, loans, and revolving credit facilities from financial and non-f.....»»

Authored by Irina Slav via OilPrice.com, Decarbonizing the U.S. grid and replacing fossil fuels with renewa.....»»

Environmentalists call on parent company MUFG to stop lending to Conflict Palm Oil, fossil fuel expansion.....»»

Fossil fuel industry giants such as Exxon.....»»

The $9 trillion business of financing global trade needs to go digital, according to southeast Asia’s second-biggest lender......»»

The $9 trillion business of financing global trade needs to go digital, according to southeast Asia’s second-biggest lender......»»